Canada: Nunavut presents 2025-26 budget, no income or corporate tax hike
Canadian province, Nunavut’s Finance Minister Lorne Kusugak delivered the province’s 2025-26 budget on 24 February 2025. The key aspect of the 2025-26 budget is it includes no increases to corporate or income taxes. However, the federal
See MoreCanada: Alberta presents tax measures for 2025 budget
Alberta’s Finance Minister Nate Horner has presented the province’s budget for 2025 on 27 February 2025. Alberta is facing its first deficit since 2020-21, with no clear plan yet to return to a surplus. The province anticipates a CAD 5.2
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Hong Kong announces 2025-26 budget, proposes reducing profits tax amongst other measures
Hong Kong Financial Secretary Paul Chan delivered the 2025-26 budget on 26 February 2025, which included various tax measures such as reducing profits tax, salaries tax and tax under personal assessment; raising the maximum value of properties
See MoreCanada: Nova Scotia announces 2025-26 budget
Nova Scotia's Minister of Finance and Treasury Board, John Lohr, presented the province's fiscal budget for 2025-26 on 18 February 2025. The government’s Capital Plan 2025-26 will invest more than CAD 2.35 billion in healthcare facilities,
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Singapore: PM presents 2025 budget, CIT rebate and investment incentives amongst new tax measures
Singapore’s Prime Minister and Finance Minister, Lawrence Wong, presented the 2025 budget on 18 February 2025 outlining various tax changes which include corporate income tax (CIT) rebate and incentives to drive investments. The key tax
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Sri Lanka: 2025 budget pledges reforms largely aligned with conditions set out in IMF bailout
Anura Kumara Dissanayake, Sri Lankan President and Finance Minister, presented the 2025 budget to the Parliament on 17 February 2025, introducing various tax and legal reforms to advance the new government’s policy agenda. These reforms are key to
See MoreSri Lanka: 2025 Budget expected to lower income taxes, secure IMF bailout
Sri Lanka's President Anura Kumara Dissanayake, who is also the nation’s finance minister, is expected to present the state budget for 2025 on Monday, 17 February 2025. A key focus of the budget is to ease the vehicle import duties, which is
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Canada: Northwest Territories announce 2025-26 budget, carbon tax increased, income tax unchanged
Finance Minister Caroline Wawzonek has presented the Government of the Northwest Territories (GNWT) 2025-26 budget to the 20th Legislative Assembly on 6 February. Budget 2025‑2026 forecasts revenues of CAD 2.7 billion and allocates CAD 2.5
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Sweden consults tax changes for 2026 Autumn Budget
Sweden’s Ministry of Finance has released several tax proposals for public consultation as part of preparations for the 2026 autumn budget on 10 February 2025. These proposals, which cover key sectors like agriculture, energy, and metallurgy,
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India: Cabinet approves Income Tax Bill for 2025
The Indian Union Cabinet has approved the Income Tax Bill 2025, which will supersede the old Income Tax Act of 1961. The proposed legislation seeks to streamline tax laws, remove outdated provisions, and simplify compliance processes. Union
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Botswana presents 2025-26 FY budget to National Assembly
Botswana’s Ministry of Finance and Economic Development has presented its budget proposals for the 2025-26 fiscal year to the National Assembly on 10 February 2025. Amendments include changes to corporate taxation, VAT and personal
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Angola approves 2025 state budget
Angola’s parliament has approved the General State Budget for 2025 on 30 December 2024, introducing amendments to corporate income tax, VAT and personal income tax. The key tax measures are as follows: Corporate income tax Corporate
See MoreIndia 2025 Budget: Everything we know so far
India’s Finance Minister Nirmala Sitharaman presented the Union Budget 2025-2026 on 1 February 2025 to the parliament, which included the Finance Bill 2025 (The Bill) outlining amendments to various direct and indirect taxes as well as various
See MoreIndia: Finance Minister unveils new tax proposals in 2025 budget
India's Union Budget 2025-2026, presented by Finance Minister Nirmala Sitharaman on 1 February 2025, introduced several key tax proposals. Key highlights include: Non-resident taxation A presumptive taxation regime for non-residents
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Italy outlines state budget for 2025, lowers corporate tax for reinvestment
Italy has enacted Law No. 207 of 30 December 2024, outlining the 2025 State Budget along with the multi-year financial plan for 2025-2027. The law was published in the Official Gazette on 31 December 2024 and took effect on 1 January 2025. The
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Lithuania gazettes 2025-27 budget, increases tax-exempt income threshold
Lithuania has published its budget plan for the three-year period from 2025 to 2027 in the official gazette on 19 December 2024. Key changes include an increase in the tax-exempt income threshold for 2025. Even though the budget for the next
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Luxembourg enacts Budget Law 2025, introduces changes to CO2 tax credits
Luxembourg has enacted the Budget Law for 2025, which includes modifications to the CO2 tax credits, VAT, and introduction of initiatives to revitalise the housing market; published in Official Gazette No. A 558 of 23 December 2024. The law will
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Nigeria: President presents 2025 budget
The President of Nigeria, Bola Ahmed Tinubu, presented the 2025 Budget titled “The Restoration Budget: Securing peace, Rebuilding prosperity” during a joint session of the 10th National Assembly on 18 December 2024. The budget is a record high
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